Record American Military Spending Tops Next 11 Countries Combined

Global weapon expenditures hit a record $2.24 trillion in 2022, an increase of nearly 4%, according to the Stockholm International Peace Research Institute (SIPRI). The global watchdog found the trend was led by European countries returning to Cold-War spending levels, though the United States remained the world’s largest spender on war by far.

SIPRI released its latest annual report on Monday, finding that worldwide military expenditures had increased for the eighth consecutive year. Dr. Nan Tian, a senior researcher with SIPRI’s Military Expenditure and Arms Production Program, said “The continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world.”

Overall European military spending increased by 13% in 2022. For many nations on the continent, weapons expenditures increased to levels not seen since the Cold War. During the same period, Finland (+37%), Lithuania (+27%), Sweden (+12%), and Poland (+11%) each increased their military budgets more than Russia, which saw a 9.2% jump amid the war in Ukraine. Kiev’s year-to-year war spending increased by a staggering 640%, reaching $44 billion.